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Differences Between Zero Balance Online Savings Account Or BSBDA

Savings accounts have many benefits and advantages, including interest earned on the saved amount, safety, and more. With these benefits, the savings account is a must-have for individuals.

While banks offer various saving accounts, one of the primary features of the savings account is the requirement of minimum balance. However, if you are looking for savings accounts that don’t come with the hassle of higher minimum balance maintenance, you can either go with a zero balance online savings account or a Basic Savings Bank Deposit Account (BSBDA).

While both these types of accounts are zero balance savings accounts, in this article, let’s figure out how these two accounts differ from each other and what features do they come along with.

A Brief on Savings Accounts

One of the major factors that make savings accounts beneficial is that they offer a higher financial transaction limit and a lower deposit limit. And then, you can either apply for a savings account online to speed up and ease the entire process or go for the traditional offline steps.

For opening a savings account in any bank, you must complete the KYC (Know Your Customer) process as it is mandatory. Also, if you are choosing a government bank, you might be required to maintain a minimum account balance anywhere between Rs.500 to Rs.1000. As for the private sector banks, depending on the savings account variant, you may need to keep a minimum account balance of Rs. 5,000.

If you are uncertain about the minimum balance, many banks offer zero balance savings account. Anyone can open this account. However, keep in mind that you will not be eligible to have a savings account in the same bank once you have done that.

Moreover, there may be limitations on the number of deposits, and cheques issued. These regulations vary with every bank.

Difference between Zero Balance Online Savings Account and BSBDA

One of the main benefits of a zero balance savings account is that there is no minimum monthly balance requirement.  Online zero balance savings account and Basic Savings Bank Deposit Account (BSBDA) are zero balance savings account without any minimum monthly average balance requirement. However, there are many differences between the two accounts.

Who can open it?

Any new customer who doesn’t have any existing relationship with the bank can open the online zero balance savings accounts. But, for opening the BSBDA, you must be an individual without any prior bank account.

Mode of opening:

As the name suggests, you must apply for zero balance savings account online using the bank’s official website or by downloading the app. However, to open a BSBDA, you would have to visit the chosen bank nearest branch and fill up physical forms. A bank executive would help you with the process.


As KYC is mandatory in India for various financial activities and ensures every individual’s security and safety, the bank accounts are also opened after the completing KYC process. For the zero-balance online account that can be opened using Aadhaar OTP, you have to fill in your Aadhaar Number and the registered mobile number. The bank then sends an OTP for verification. The bank account will be valid for 12 months. You have to visit the bank branch or book an appointment through the mobile banking application or customer care and complete the KYC process through in-person or video-based KYC. 

In contrast, as for opening a BSBDA, you need to submit the KYC documents’ copies to the bank’s branch.

Debit Cards:

If you are going for the online zero balance savings account, then you will get a variety of options for the debit card to choose from. Depending on the bank, you can get MasterCard, VISA, or a RuPay card. However, with BSBDA, you will only get a RuPay debit card.

Joint Account:

Depending on the bank, its regulations, and guidelines, you can apply for a joint account. Currently, most banks offer a joint account option for both BSBDA and zero balance account. This could be helpful for couples or parents/guardians of a minor child.

Daily Money Withdrawal:

Banks offer a facility of unlimited daily withdrawals for those who have an online zero balance savings account, with the first five transactions being free of cost. However, there is a limit set for BSBDA. BSBDA account holders can withdraw cash only 4 times a month including ATM as well.


There are several benefits of a zero-balance savings account, making it a preferred choice in present days. With no minimum balance commitment, one can use the account to the fullest. So, if you have a bank account, you can open a zero balance online savings account instantly.

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